Fiduciary funds use the economic resource measurement focus.

Name: Fiduciary funds use the economic resource measurement focus.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Fiduciary funds are used to account for funds that a governmental entity holds in a trustee capacity or as an agent for individuals, private organizations or other governmental units. Therefore, the primary focus of fiduciary funds is on the economic resources that are controlled by the fiduciary entity on behalf of the beneficiaries.

Fiduciary Funds Use the Economic Resource Measurement Focus